ADNOC Gas Plans Acquisition Of 60% Stake In Ruwais LNG Plant By 2028

ADNOC Gas is set to acquire a 60% stake in the Ruwais Liquified Natural Gas (LNG) plant from ADNOC by late 2028. This acquisition, valued at approximately $5 billion, aligns with ADNOC Gas's strategic growth objectives. The company is currently overseeing the design and construction of the Ruwais LNG facility and managing its marketing efforts.

Dr. Ahmed Mohamed Alebri, CEO of ADNOC Gas, stated, "It has always been our intention to acquire ADNOC’s 60% stake in Ruwais LNG. This investment is a central component of our ambitious international growth plans and will strengthen ADNOC Gas’ position as a powerhouse in the global LNG market." Over the next five years, ADNOC Gas plans to invest $15 billion in capital expenditures to seize opportunities from rising demand for lower-carbon gases.

The Ruwais LNG plant will significantly increase ADNOC Gas's current LNG capacity from Das Island's 6 mtpa to over 15 mtpa. It will feature two liquefaction trains powered by electricity, each capable of processing 4.8 mtpa. This setup marks a first for the Middle East and North Africa (MENA) region.

The facility aims to be one of the world's lowest-carbon intensity LNG plants upon completion. It will utilise artificial intelligence and advanced digital technologies to enhance safety, reduce emissions, and improve operational efficiency. The first train is expected to start operations in the second half of 2028, with the second following in early 2029.

In June, ADNOC made a Final Investment Decision (FID) on the Ruwais LNG project and secured an Engineering, Procurement, and Construction (EPC) contract worth over $5.5 billion. By July, Mitsui & Co., Shell, bp, and TotalEnergies joined as equity partners, each acquiring a 10% stake.

Market Commitments

ADNOC Gas has already committed over 7 million tonnes per annum (mtpa) of the project's total production capacity of 9.6 mtpa to international customers. The facility's annual output could power every home in Greater London for more than two years.

This expansion underscores ADNOC Gas's commitment to meeting both domestic and global energy demands while maintaining environmental sustainability standards.

With inputs from WAM